Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Cypress Capital Group

Cypress Capital Group lessened its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 23.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,825 shares of the industrial products company’s stock after selling 846 shares during the period. Cypress Capital Group’s holdings in Illinois Tool Works were worth $716,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC boosted its holdings in shares of Illinois Tool Works by 36,632.9% in the 4th quarter. Proficio Capital Partners LLC now owns 438,591 shares of the industrial products company’s stock valued at $111,209,000 after buying an additional 437,397 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Illinois Tool Works by 41.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock valued at $358,321,000 after buying an additional 398,676 shares in the last quarter. National Bank of Canada FI boosted its holdings in shares of Illinois Tool Works by 318.9% in the 3rd quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company’s stock valued at $106,352,000 after buying an additional 308,935 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Illinois Tool Works by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock valued at $1,645,972,000 after buying an additional 167,422 shares in the last quarter. Finally, Benjamin Edwards Inc. boosted its holdings in shares of Illinois Tool Works by 787.3% in the 3rd quarter. Benjamin Edwards Inc. now owns 186,643 shares of the industrial products company’s stock valued at $48,945,000 after buying an additional 165,607 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 2.3 %

Shares of Illinois Tool Works stock opened at $261.14 on Thursday. The company has a market cap of $76.65 billion, a P/E ratio of 22.28, a PEG ratio of 4.56 and a beta of 1.13. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The firm has a fifty day moving average of $257.05 and a two-hundred day moving average of $259.68.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. On average, analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be issued a $1.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.30%. Illinois Tool Works’s dividend payout ratio is presently 51.19%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ITW shares. Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 target price for the company in a report on Wednesday, February 19th. JPMorgan Chase & Co. decreased their price target on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Stifel Nicolaus decreased their price target on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, Barclays decreased their price target on shares of Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Illinois Tool Works currently has an average rating of “Hold” and a consensus target price of $269.30.

Insider Activity

In other news, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total value of $18,431,000.00. Following the completion of the transaction, the director now owns 260,224 shares in the company, valued at $68,516,979.20. This trade represents a 21.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Company Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.